Shaw earnings miss expectations, but wireless grows to 1.7 million customers

Shaw Communications reported fourth-quarter income that missed analysts’ estimates though its wireless business grew more than expected.

The Calgary-based company added 90,700 wireless customers during the quarter after analysts had expected fewer than the 85,000 new users added in the same period a year ago. Shaw’s total of 1.7 million subscribers in three provinces makes it the largest regional wireless provider in Canada. The wireless unit, although small when compared to its main business as one of Western Canada’s biggest internet and TV cable networks, began in 2016 when Shaw bought Wind Mobile. Over fiscal 2019, Shaw’s Freedom launched in 19 new markets in Alberta, British Columbia and Ontario, bringing in 1.4 million new customers, it said.The company forecasts 2020 free cash flow of $700 million compared with analysts estimating $577.6 million, Bloomberg said. Next year’s capital spending prediction is $1.

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